MCA Notification No- G.S.R__(E) on Tuesday, 19th February, 2019, has issued Companies (Adjudication of penalties) Amendment Rules, 2019 to amend the Companies (Adjudication of penalties) Rules, 2014 wherein; rule 3 shall be substituted which pertains to Adjudication of penalties. Pursuant to Amendment, certain time lines have been changed, time limit within which Adjudication shall pass order under this rule has been more clearly specified and also the factors that will be considered by the Adjudicating officer for deciding the quantum of penalty has been clearly specified.
The said Notification can be accessed through the following link:MCANotf_GSR_19.2.19_Adjudication of penalities Amend Rules, 2019